Stephen65
Active Member
- Joined
- Jun 20, 2010
- Posts
- 847
Have a six figure ATO bill to pay in a week so I think it will go to Westpac Amex KrisFlyer to give them a thrill. Sure I hate the higher fee but I will use the free credit days to lessen the pain of 1.45% for 1.5 points per dollar.
The fee in this case will be deductible so that will cut a hunk off the cost in real terms and it is just a matter of making the payment on a card after the month close off to get the free days.
The bill has to be made on the due date as the ATO would charge interest on any days past due at their penalty rate.
If it's any consolation the interest the ATO charges on late payments (called General Interest Charge and currently 9.95% compounding daily) is itself tax deductible.